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Swing Capital

Affle 3i Ltd

NSE: AFFLE BSE: 542752

Incorporated in 1994, Affle is a global technology company with a proprietary consumer intelligence platform that transforms ads into recommendations helping marketers to effectively identify, engage, acquire and drive transactions with their potential and existing users[1]

₹1,458
52W: ₹1251 — ₹2187
PE 153 · Book ₹146 · +899% vs book
Market Cap₹20,528 Cr
Stock P/E153Price to Earnings
ROCE9.17%Return on Capital
ROE6.81%Return on Equity
Div. Yield0%Face Value ₹2

Strengths

  • +Company has reduced debt.
  • +Company is almost debt free.
  • +Company has delivered good profit growth of 36.5% CAGR over last 5 years
  • +Debtor days have improved from 83.2 to 65.4 days.
  • +Company's median sales growth is 26.9% of last 10 years

Weaknesses

  • −Stock is trading at 9.97 times its book value
  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −Company has a low return on equity of 6.39% over last 3 years.
  • −Earnings include an other income of Rs.69.5 Cr.
  • −Promoter holding has decreased over last 3 years: -4.97%
  • −Working capital days have increased from 168 days to 268 days

Shareholding Pattern

Promoters54.92%
FIIs16.66%
DIIs17.9%
Public10.4%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters55.14%55.09%▼0.055.03%▼0.155.02%▼0.055%▼0.054.97%▼0.054.95%▼0.054.92%▼0.0
FIIs15.3%15.55%▲0.316.49%▲0.916.09%▼0.418.42%▲2.319.02%▲0.617.79%▼1.216.66%▼1.1
DIIs16.21%15.59%▼0.614.57%▼1.015.31%▲0.713.82%▼1.514.68%▲0.916.36%▲1.717.9%▲1.5
Public13.33%13.7%▲0.413.8%▲0.113.47%▼0.312.69%▼0.811.23%▼1.510.8%▼0.410.4%▼0.4

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales139156163176188188199220226219
Expenses122137138152163160172196191186
Operating Profit17182524252727243533
OPM %12%12%16%14%13%15%13%11%16%15%
Net Profit19242827293130303738
EPS ₹1.321.692.011.942.082.22.112.132.612.67

AI Insights

Revenue Trend

Mar 2026 revenue at ₹864Cr, up 21% YoY. OPM at 14%.

Debt Position

Borrowings at ₹3Cr. Debt-to-equity ratio: 0.00x. Healthy balance sheet.

Institutional Flow

DIIs: 17.9% (+4.33pp change). FIIs: 16.66% (+6.69pp change). Promoters hold 54.92%.

Margin & Efficiency

ROCE declining from 27% (Mar 2015) to 9% (Mar 2026). Working capital days: 268.

Valuation

PE 153x with 9.17% ROCE. Price is 899% above book value of ₹146. Dividend yield: 0%.

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